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PRODUCER INFORMATION
A.
New Producer Hiring
Where New Producers Were Found
Future Hiring Plans
AGENCIES WITH REVENUES BETWEEN $2,500,000 AND $5,000,000
92
EXECUTIVE
PERSPECTIVES
PROFILE
REVENUES/
EXPENSES
FINANCIAL
STABILITY
EMPLOYEE
OVERVIEW
PRODUCER
INFO
SERVICE
STAFF
INFO
TECHNOLOGY
INSURANCE
CARRIERS
APPENDIX
"Although it is counterintu-
itive, we have two produc-
er/owners who are no
longer focusing on per-
sonal production of new
business. Instead, one
owner is focused on men-
toring/ coaching new pro-
ducers and the other is
focused on agency work-
flows (which support the
new producers)."
Average
+25%
Profit
+25%
Growth
% of Agencies that Hired
a New Producer During
Last Fiscal Year
59.4%
*
87.5%
Number of New
Producers Hired
1.7
*
1.7
Average Annual
Compensation Per New
Producer
$52,468
*
$49,700
“Successful” New
Producers
72.6%
of producers hired over the
last 5 years have met their
production goals.
Another
insurance broker
49.1%
An insurance
carrier
14.9%
Directly from college
or graduate school
5.3%
Outside of Industry*
30.7%
*Other industries mentioned most often include Financial, Stock Brokerage, Manufacturing,
Medical/Pharmaceuticals, and Office Equipment/Furniture.
Average
+25%
Profit
+25%
Growth
% of Agencies that Plan to Hire a New
Producer During Current Fiscal Year
90.6% 100.0% 100.0%
Number of New Producers to be Hired
1.3
1.0
1.8
*Insufficient Data